Financial management is important for a mandi business. Let’s find out how commission agents can add bank entries related to their customers and suppliers on ChargeERP.
This is the next article from our ‘How-To’ series. The previous post was ‘How To Add ‘Cash’ Entries On the ‘Financials’ page of ChargeERP’.
On the ‘Financials’ page of ChargeERP, commission agents can keep a log of all the financial transactions of their customers and suppliers, done via cash or bank.
Check out how commission agents can add ‘Bank’ entries on the ‘Financials’ page of ChargeERP.
- First, log into your ChargeERP account. Once you log in, you will directly land up to the ‘Dashboard’ page. From the top left corner, click on the company name dropdown (A) and choose the company you want to add the ‘Bank’ entry to.
- Now, using the sidebar option on the left side, just click on the ‘Financials’ tab (B).
- The ‘Financials’ page has three tabs, namely ‘Cash’, ‘Bank’ and ‘All’. To add a new ‘Bank’ entry, click on the ‘Bank’ tab (C).
- Then, click on the ‘New Entry’ button (D) on the right side of the page. An ‘Add New Entry’ form will open.
On the form, fill in your bank payment details (E).
- Select the ‘Date’ of the bank transaction.
- From the ‘Payment Type’ dropdown, select ‘Paid’ or ‘Received’.
- Next, type in the ‘Receipt No.’.
- Select the ‘Transaction Type’ from the dropdown that lists options for ‘Cheque’, ‘RTGS’, ‘Draft’, ‘Cash’ and ‘Online transfer’.
- From the ‘Account Type’ dropdown, select ‘Customer’ or ‘Supplier’ account.
- The ‘Account Name’ dropdown (F) will list the accounts based on the chosen ‘Account Type’. If your desired account name is not on the list, click ‘Add New’ button (G) and enter the new account details. This new account will also reflect on the ‘Accounts’ page.
- Upon choosing the ‘Account Name’, you will automatically get the ‘Outstanding Balance’ (H) for that account. This smart feature will ensure that you are paying the right amount.
- You can add ‘Remarks’ if you want to.
- Click on the ‘Save’ button (I) to complete the Bank entry. This new bank entry will now appear in the table under the ‘Bank’ tab and ‘All’ tab on the ‘Financials’ page.
- To search for transactions related to a particular account, type the account name in the ‘Search Here’ box (J).
- The footer (K) for the ‘Bank’ tab shows ‘Total Transactions’, ‘Amount Received’, ‘Amount Paid’ and ‘Net Amount’.
How to edit and delete the ‘Bank’ entry?
Every row in the ‘Bank’ table has a ‘three-dot menu’ (L) on the right side. As you click on it, ‘Edit’, ‘Delete’ and ‘Print Receipt’ options will come. You can choose the ‘Edit’ or ‘Delete’ options to edit or delete your bank entries.
How to generate Payment Receipts?
A payment receipt is a document that acts as proof of a financial transaction. Commission agents can keep this document for their records or share it with their customer or supplier, whenever required. To generate a bank payment receipt, use the same ‘three-dot menu’ and click on the ‘Print Receipt’ option (M). You will see a confirmation box (N) to receive this report over WhatsApp.
As soon as you make your choice between ‘Yes’ or ‘No’, you will be redirected to the ‘Payment Receipt’ (O) of the selected customer/supplier. You can then choose to ‘Print’ or ‘Download’ it.
Back on the ‘Bank’ tab, you will see a download icon (P) on the right side of the table. As you click on this icon, ‘Print Bulk Receipts’ (Q) and ‘Export as PDF’ (R) options will come.
If you want to get a combined report (S) for all the bank payments, click on the ‘Print Bulk Receipts’ option.
‘Export as PDF’ option will take you to the ‘Bank Payment Register’ (T) that summarizes the total number of bank transactions, amount received and paid, and the net amount.
This is how you can add ‘Bank’ entries on the ‘Financials’ page of ChargeERP. Read our next article in the ‘How-To’ series – ‘How To Manage ‘Crates’ On ‘Crate Analysis’ Page Of ChargeERP’. ChargeERP accounting software is favorite amongst mandi commission agents as it helps them in storing their financial information in a secure manner. Also, the software is easy to learn and does not require any technical or accounting expertise. Powered by Bijak, India’s most trusted agri-trading app, ChargeERP can be accessed from multiple devices and promises to save 90% of your time and energy.
In case you have any queries regarding ChargeERP software and their newly launched ChargeERP box, feel free to dial +91 8588998844 or visit www.chargeerp.com. You can request a free demo here: https://www.chargeerp.com/#demo. For regular updates, you can follow us on Facebook and check our latest videos on our YouTube channel.